ExxonMobil achieved a cost savings target of $9bn ahead of schedule, with more to come before the end of the year.
Third-quarter profit of $9.1bn was down from $19.7bn in the same year-earlier quarter, ExxonMobil said. Profit was up 15pc from the previous three months as oil prices rebounded.
"We delivered another quarter of strong operational performance, earnings and cash flows, adding nearly 80,000 net oil-equivalent b/d to support global supply," chief executive officer Darren Woods said.
Year-to-date production of 3.7mn boe/d was consistent with full-year guidance.
Growth from Guyana and the Permian helped offset lower natural gas production from divestments.
Full-year capital spending is expected to be at the upper end of the guidance range of $23bn-$25bn.
Earlier this month, ExxonMobil agreed to buy Pioneer Natural Resources for $59.5bn in stock to become the leading producer in the Permian shale basin. In July, the company bought US producer Denbury for $4.9bn, gaining control of the US' largest CO2 pipeline network to grow its carbon capture and storage efforts.
"Pioneer will help us grow supply to meet the world's energy needs with lower carbon intensity while Denbury improves our competitive position to economically reduce emissions in hard-to-decarbonize industries," Woods said.
ExxonMobil announced a fourth quarter dividend of 95¢/share, an increase of 4pc. The producer is on track to complete $17.5bn of share repurchases this year.
